Imperical Investigation of the Relationship betweenHuman Resource Value and Stock Rate of Return ofCompaniesListed on Tehran Stock Exchange

Tehran Stock Exchange. Inorder to examine the significance of relationship between independent variables-company’s human resource value، human resource capitation and growth rate of This research investigated the relationship between human resource value and stock rate of return within companies listed on human resource- and stock rate of return، 3 hypotheses have been developed. The Sangelagji Implicit Purchasing Price of Employees’ Potential Services Model (1975) was used to obtain company’s human resource value. The statistical method used to test the proposed hypothesis is “panel-data”. The data sample is restricted to 85 companeis during 2001-2008. Research findings indicate that there is a significant positive relationship between company’s human resource value، human resource capitation and growth rate of human resource as independent variables and company’s stock return rate as dependent variable.